Test Bank for Macroeconomics, 6th Edition
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1
Macroeconomics, 6e (Williamson)
Chapter 1 Introduction
1.1 Multiple-Choice Questions
1) In 2014, the per-capita GDP in the United States, in 2005 dollars, was about
A) $17,500.
B) $27,500.
C) $50,000
D) $47,500.
Answer: C
LO: 1.2: Explain the key features of trend growth and deviations from trend in per capita gross
domestic product in the United States from 1900 to 1914.
Difficulty: easy
Classification: concept
AACSB: application of knowledge
2) Which of the following topics is NOT a primary concern of macroeconomists?
A) fluctuations in the level of economic activity
B) differences in standards of living across countries
C) relative wages of skilled and unskilled workers
D) unemployment
Answer: C
LO: 1.1: State the two focuses of study in macroeconomics, the key differences between
microeconomics and macroeconomics, and the similarities between microeconomics
Difficulty: moderate
Classification: concept
AACSB: analytical thinking
3) Primarily, macroeconomists use microeconomic principles to study
A) business cycles and trends in the stock market.
B) long-run economic growth and antitrust policies.
C) trends in the stock market and long-term economic growth.
D) long-run economic growth and business cycles.
Answer: D
LO: 1.1: State the two focuses of study in macroeconomics, the key differences between
microeconomics and macroeconomics, and the similarities between microeconomics
Difficulty: moderate
Classification: concept
AACSB: application of knowledge
Macroeconomics, 6e (Williamson)
Chapter 1 Introduction
1.1 Multiple-Choice Questions
1) In 2014, the per-capita GDP in the United States, in 2005 dollars, was about
A) $17,500.
B) $27,500.
C) $50,000
D) $47,500.
Answer: C
LO: 1.2: Explain the key features of trend growth and deviations from trend in per capita gross
domestic product in the United States from 1900 to 1914.
Difficulty: easy
Classification: concept
AACSB: application of knowledge
2) Which of the following topics is NOT a primary concern of macroeconomists?
A) fluctuations in the level of economic activity
B) differences in standards of living across countries
C) relative wages of skilled and unskilled workers
D) unemployment
Answer: C
LO: 1.1: State the two focuses of study in macroeconomics, the key differences between
microeconomics and macroeconomics, and the similarities between microeconomics
Difficulty: moderate
Classification: concept
AACSB: analytical thinking
3) Primarily, macroeconomists use microeconomic principles to study
A) business cycles and trends in the stock market.
B) long-run economic growth and antitrust policies.
C) trends in the stock market and long-term economic growth.
D) long-run economic growth and business cycles.
Answer: D
LO: 1.1: State the two focuses of study in macroeconomics, the key differences between
microeconomics and macroeconomics, and the similarities between microeconomics
Difficulty: moderate
Classification: concept
AACSB: application of knowledge
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